Federal Bank Ltd's Q3FY19 standalone net profit rises 28.3% yoy to Rs333.60cr: In-line with Estimates

The bank’s standalone NII in the quarter stood at Rs1,077.30cr, up 13.4% yoy and 5.36% qoq.

Jan 17, 2019 12:01 IST India Infoline Research Team

Federal Bank Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
NII 1,077.30 13.4
GNPA (%) 3.1 3
Provisions 190.10 -34
Net Profit (adjusted) 333.60 28.3
***GNPA change is bps
Federal Bank's net interest income (NII) in Q3FY19 came in at Rs1,077cr, up 13.4% yoy vs Rs950cr reported in the same quarter of the previous fiscal. At Rs333.6cr, up 28.3% yoy against Rs260cr last year, the bank’s net profit in the quarter was in line with the consensus estimates. Its GNPA for Q3FY19 has improved 3bps to 3.14%. NNPA for the quarter came in at 1.72% against 1.78% qoq, a decrease of 6bps. Net interest margin (NIM) for the quarter came at 3.17% as against 3.15% qoq and 3.3% yoy.
  • Total advances for the quarter increased 25% yoy.
  • Provisions for the quarter decreased 34.2% yoy to Rs190cr for the quarter.
  • Slippages for the quarter were reported at Rs435cr as against Rs477cr qoq.
  • SME slippages for the quarter came in at Rs192cr vs. Rs169cr qoq.
  • There is no regulatory divergence in asset portfolio as per the management.

Technical View:

Federal Bank Ltd share price is currently at Rs89.55, down Rs1.85, or 2.02%, from its previous close of Rs91.40 on the BSE. The scrip opened at Rs91.95 and has touched a high and low of Rs92.80 and Rs89.50, respectively. So far, 2,05,13,803 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50-DMA.

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